ProSiebenSat.1 shows 'significant' revenue, earning increases in Q2 2015


Joseph O'Halloran

| 31 July 2015

Q2 revenues growing 1.8% to 772.5 million and an 8.4% recurring EBITDA increase to 237.6 million have set ProSiebenSat.1 for a profitable 2015.

The German pay-TV giant believes that in the quarter ended 30 June it had made further progress in the implementation of its diversification strategy, generating over a third (36.2%) of its revenues outside the TV advertising business. This is over five percentage points more than at the end of the second quarter of 2014.

For the half year, ProSiebenSat.1 increased its consolidated revenues by 12.2% to 1.427 billion, with recurring EBITDA up 8.6% year-on-year to 390.3 million. Underlying net income grew by 14.8 % to 188.1 million.

The quarter also saw broadcasting TV advertising revenues in all German-speaking markets increase, driven by the company's highest audience share in Germany in ten years. External revenues for the broadcasting German-speaking segment grew by 4.6% to 534.6 million in the Q2 2015. Recurring EBITDA increased by 4.5 % to 196.9 million.

In the Content Production & Global Sales segment, external revenues increased by 77.2 % to 54.4 million in the second quarter of 2015, with recurring EBITDA rising to 4.0 million from 1.3 million in the previous year. Segment revenue growth was organic in the second quarter, with the production business in the US making the largest contribution to revenues. In addition to organic growth, the first-time consolidation of the US production firm Half Yard Productions in March 2014 also contributed to the increase in revenues in the first half of 2015.

Commenting on the results, ProSiebenSat.1 Media CEO Thomas Ebeling, said: "In the second quarter of 2015, all segments grew profitably and we are pushing full steam ahead with our growth strategy. Our most important goal remains making ProSiebenSat.1 more competitive and tapping into new growth markets via digitalisation and internationalisation. Free TV is the driving force of our digital business and offers us the opportunity to market products to an audience of millions at little financial cost. We are thus continuously increasing the value of our company and creating new growth areas that benefit our shareholders in the long term."